1832 Asset Management L.P. lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,925 shares of the utilities provider's stock after selling 3,070 shares during the period. 1832 Asset Management L.P.'s holdings in Public Service Enterprise Group were worth $2,051,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Public Service Enterprise Group by 4.9% during the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock worth $5,247,586,000 after buying an additional 2,986,646 shares during the period. Ameriprise Financial Inc. boosted its stake in Public Service Enterprise Group by 2.3% during the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock worth $600,317,000 after buying an additional 162,261 shares during the period. Northern Trust Corp boosted its stake in Public Service Enterprise Group by 6.1% during the fourth quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock worth $490,644,000 after buying an additional 335,135 shares during the period. Raymond James Financial Inc. boosted its stake in Public Service Enterprise Group by 5.2% during the first quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider's stock worth $385,439,000 after buying an additional 230,636 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Public Service Enterprise Group by 15.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,997,028 shares of the utilities provider's stock worth $337,709,000 after buying an additional 542,671 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.
Public Service Enterprise Group Trading Down 0.3%
Shares of PEG traded down $0.23 during trading hours on Friday, reaching $82.36. 2,254,583 shares of the company traded hands, compared to its average volume of 2,784,153. The firm has a market cap of $41.10 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.86 and a beta of 0.45. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The stock's fifty day moving average price is $84.71 and its 200 day moving average price is $82.27.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business's revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.
Public Service Enterprise Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is presently 63.64%.
Analysts Set New Price Targets
Several research firms have commented on PEG. Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Barclays dropped their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Finally, BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.95.
Read Our Latest Analysis on PEG
Insider Buying and Selling at Public Service Enterprise Group
In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by insiders.
Public Service Enterprise Group Company Profile
(
Free Report)
Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.
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